Wednesday, July 23, 2008

ActaCell Lands $5.8M in Series A

ActaCell Inc., a developer of lithium-ion battery technology, announced today that it has raised $5.8M in its first round of venture financing. The Austin, Texas-based startup said it would use the money to hire technical talent and to further develop its lithium-ion battery technology for commercial purposes. ActaCell said DFJ Mercury led the Series A effort. Applied Ventures LLC—the venture capital arm of Applied Materials Inc.—and green-focused investment firms Good Energies and Google.org's RechargeIT also participated, ActaCell said. Still in development, ActaCell's technology has not been publicly disclosed. Full product and technology announcements will follow in early 2009, the company said. More information »